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Analysts Praise Meta Stock After Job Cuts

by OptionsGal
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More than 9 analysts have raised their price targets

facebook parent Meta Platforms Inc. (NASDAQ:META) More than nine analysts, including Citigroup, have raised their price target from $228 to $260. Shares rose 7.3% yesterday after the company announced it would cut 10,000 jobs and 5,000 open positions. 2nd staff reductionToday, however, the stock has succumbed to a broader market decline, trading 0.6% lower at $192.77.

Yesterday’s rally took META above the 320-day moving average for the first time in over a year. This is the same trendline that capped the rally following the bullish post-earnings gap in stocks from February. Since its inception in 2023, Meta Platforms’ share price is up 60.1% of his. However, it is worth noting that his 14-day Relative Strength Index (RSI) of 82.2 for this security is in the “overbought” territory. This usually indicates a short-term decline.

For those who want to speculate on the next move of MOS stocks, options may be a good idea. It shows that options players are pricing with volatility expectations lower than 27% of all other readings over the past year.In addition, META Schaeffer Volatility Scorecard (SVS) The stock is at 83, suggesting that the stock has trended above expectations of options traders over the past year.

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